Tech stocks began 2025 quietly on the Nigerian Exchange. Early investors in ICT soon rode a surprising wave of growth.
By October 8, a ₦1 million stake in NCR Nigeria had grown to ₦3.2 million, delivering massive returns.
Tech Stocks Lead the Charge
Similarly, eTranzact climbed to ₦2.46 million, CWG Plc rose to ₦2.17 million, and MTN Nigeria increased to ₦2.13 million.
Smaller firms like Chams Holding and Omatek Ventures also gained ground, reaching ₦1.8 million and ₦1.64 million respectively.
Overall, ICT stocks surged 139% year-to-date, far outpacing the 40.9% rise of the NGX All-Share Index.
Drivers of the Rally
The rally stemmed from more than speculation; growing digital infrastructure and cashless payments boosted investor confidence in technology.
MTN Nigeria benefited from rising data revenues and tariff adjustments, attracting investor attention and supporting sustained growth.
Smaller players such as eTranzact, CWG, and Chams Holding gained from new digital contracts and innovative technological solutions.
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Standout Performers
NCR Nigeria led the sector, climbing 220% to ₦16 per share, driven by orders and investor confidence in fintech hardware.
eTranzact jumped 146%, CWG more than doubled, Chams Holding rose 132%, and Omatek Ventures advanced 82%.
Analysts warn limited foreign participation and thin trading could challenge the rally in coming months for ICT stocks.
Nevertheless, government support for broadband, cashless payments, and AI integration positions technology at the heart of Nigeria’s economy.
